Second quarter 2024 operating profit of $336 million, up 63% from second quarter 2023, and adjusted operating profit(1) of $382 million, up 52% from second quarter 2023
Raising 2024 operating profit guidance to $1,256 million at the midpoint and adjusted operating profit to $1,435 million at the midpoint, an anticipated improvement of 36% compared to full year 2023
COLUMBUS, Ohio--(BUSINESS WIRE)-- Vertiv Holdings Co (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today reported financial results for its second quarter ended June 30, 2024. Vertiv reported second quarter 2024 net sales of $1,953 million, an increase of $219 million, or 13%, compared to last year’s second quarter. Organic orders (excluding foreign exchange) increased 57% from last year’s second quarter and the book-to-bill ratio was 1.4x in the second quarter. Orders for the trailing twelve-month period ended June 30, 2024 were up 37% compared to the prior trailing twelve-month period, demonstrating a strong market.
Second quarter 2024 operating profit of $336 million reflects an increase of $130 million and adjusted operating profit of $382 million reflects an increase of $131 million, or 52%, compared to second quarter 2023. Adjusted operating margin expanded 510 basis points to 19.6% in the second quarter 2024 compared to second quarter 2023, driven by benefits from increased volume, favorable price-cost and manufacturing and procurement productivity partially offset by investments in R&D and capacity to support growth.
“Vertiv delivered another strong performance in the second quarter with order growth again exceeding our expectations, rising 57% year-over-year and increasing 10% sequentially over an exceptional first quarter,” said Giordano Albertazzi, Vertiv’s Chief Executive Officer. “We continue to see increased scaling of AI deployment and Vertiv has the capacity in place to seize this pivotal moment while continuing to invest in capacity for the future. Vertiv is the connective tissue between IT and facilities in the data center, and we are just beginning to tap the tremendous potential of our unique position in the industry as we leverage the most complete portfolio of critical digital infrastructure solutions across the entire thermal and power technology spectrum, supported by over 3,750 field service engineers globally to help our customers navigate this increasingly complex environment.”
Dave Cote, Vertiv’s Executive Chairman, added: “Significant demand growth coupled with Vertiv’s unrelenting focus on operational execution to benefit our customers is translating into strong performance across the board with robust cash flow and higher profitability, accelerating progress toward our long-term target of 20%+ adjusted operating margin. These results reflect the strides Gio and his team continue to make in instilling operational excellence and a high-performance culture within the organization. This is providing a strong foundation for continued growth and long-term value creation for our shareholders.”
俄亥俄州哥伦布市--(美国商业资讯)--关键数字基础设施和连续性解决方案的全球提供商维捷控股公司(纽约证券交易所代码:VRT)今天公布了截至2024年6月30日的第二季度财务业绩。Vertiv报告称,2024年第二季度净销售额为19.53亿美元,与去年第二季度相比增长2.19亿美元,增长13%。有机订单(不包括外汇)比去年第二季度增长了57%,第二季度的账面与账单比率为1.4倍。截至2024年6月30日的过去十二个月期间的订单与前十二个月相比增长了37%,这表明了强劲的市场。
与2023年第二季度相比,2024年第二季度的营业利润为3.36亿美元,调整后的营业利润为3.82亿美元,增长了1.31亿美元,增长了52%。与2023年第二季度相比,2024年第二季度调整后的营业利润率增长了510个基点至19.6%,这得益于销量增加、有利的价格成本以及制造和采购生产率的投资部分被研发和支持增长的能力投资所抵消。
维谛科技首席执行官佐丹奴·艾伯塔齐表示:“维谛科技在第二季度再次表现强劲,订单增长再次超出我们的预期,同比增长57%,环比增长10%,环比增长10%。”“我们继续看到人工智能部署规模的扩大,Vertiv有能力抓住这一关键时刻,同时继续投资未来的产能。Vertiv是IT与数据中心设施之间的连接组织,我们才刚刚开始挖掘我们在行业中独特地位的巨大潜力,因为我们利用整个热能和电力技术领域中最完整的关键数字基础设施解决方案组合,由全球3,750多名现场服务工程师提供支持,帮助我们的客户应对这个日益复杂的环境。”
Vertiv执行董事长戴夫·科特补充说:“需求的显著增长,加上Vertiv坚持不懈地专注于运营执行以造福客户,这正在转化为全面的强劲业绩、强劲的现金流和更高的盈利能力,加速了我们实现调整后营业利润率超过20%的长期目标的进展。这些结果反映了吉奥及其团队在组织内部灌输卓越运营和高绩效文化方面继续取得的进步。这为我们的股东的持续增长和长期价值创造提供了坚实的基础。”